The market being in a trend is the main thing that eventually gets us in a trade. That is a pretty simple idea. Being consistent and making sure you do that all the time is probably more important than the particular characteristics you use to define the trend. Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend.
When you have a position, you put it on for a reason, and you've got to keep it until the reason no longer exists. - Richard Dennis
When you have a position, you put it on for a reason, and you've got to keep it until the reason no longer exists.
- Richard Dennis
You have to minimize your losses and try to preserve capital for those very few instances where you can make a lot in a very short period of time. Wh… - Richard Dennis
You have to minimize your losses and try to preserve capital for those very few instances where you can make a lot in a very short period of time. Wh…
I always say that you could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline. Almost anybod… - Richard Dennis
I always say that you could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline. Almost anybod…
When things aren't going right, don't push, don't press. - Richard Dennis
When things aren't going right, don't push, don't press.
Trading has taught me not to take the conventional wisdom for granted. What money I made in trading is testimony to the fact that the majority is wro… - Richard Dennis
Trading has taught me not to take the conventional wisdom for granted. What money I made in trading is testimony to the fact that the majority is wro…
I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you h… - Richard Dennis
I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you h…
Trading decisions should be made as unemotionally as possible. - Richard Dennis
Trading decisions should be made as unemotionally as possible.
There is another point that I think is as important: You should expect the unexpected in this business; expect the extreme. Don’t think in terms of b… - Richard Dennis
There is another point that I think is as important: You should expect the unexpected in this business; expect the extreme. Don’t think in terms of b…
When you are getting beat to death, get your head out of the mixer. - Richard Dennis
When you are getting beat to death, get your head out of the mixer.
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